RareX Ltd (ASX: REE) reported further significant assay results
RareX Ltd (ASX: REE) reported further significant assay results from the 2021 diamond drilling campaign at its 100%-owned Cummins Range Rare Earths Project in the Kimberley region of WA. The assays returned for one of the intersections have a low phosphate content likely indicating the presence of bastnasite (rare earth carbonate) which is an easily processed form of rare earths around the world. Silver potential is also still being assessed from another intersection.
Following the announcement, shares in RareX Ltd lifted 1.05% to $0.096/share.
When a mining company announces a new resource discovery it’s exciting times for shareholders.
A lot of capital goes into exploration and when a new deposit is found there’s usually a share price boost.
Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.
When discussing new resource discoveries it’s beneficial to know the difference between greenfield and brown exploration.
Greenfield exploration is looking for mineral deposits in areas that have not been explored.
In brownfield exploration deposits are being sought near or next to an already existing mine.
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